Mommy Millionaire Drops Some Serious Knowledge

Kim Lavine, self-proclaimed Mommy Millionaire, has put out a book detailing her adventure in taking a crazy kitchen table idea into a company valued at $10 million. 

I’ll admit, I haven’t read the book from cover to cover yet.  But when I saw it in Barnes & Noble last weekend, I did sit down and read excerpts for about 30 minutes.  I was very impressed.  In looking at the contents of the book and the way Kim tells her story,
I can tell you that this seems to be a very detailed, no bs, road map
to building a company around a consumer product.

It’s very difficult for anyone, not just mom’s, to learn about the product commercialization and business start-up process.  People often only get the same dry information over and over.  It’s a rare occasion that a successful person turns around and spills the beans the way Kim Lavine has.  I would say the only other person out there I’ve seen do this is Barbara Carey.  Just take a look at these interviews here and here, if you haven’t yet.

Some notable topics in the book:

  • A short section tackles sourcing in China.  She writes that doing this is not a matter of "if", but "when".  It seems she had a chance encounter with someone, dubbed "Chinese MBA" in the book, and eventually teamed up with this person to serve as her connection and manager of her manufacturing in China. 
  • She discusses dealing with cash flow and a consistent lack thereof.   
  • Finally, one quickly gets a sense for the persistence and work ethic that Kim used to make her dream a reality.   So many are convinced it’s all about the idea.  Well…it’s the idea + blood, sweat, and getting over the tears.

I can’t say that I agree with everything she espouses in the book, but I can say that if you are interested, or are currently trying to launch something from your kitchen table, this book is worth checking out.